It turns out Manila has been cirulating clad coin for 2 months. I guess that's why they've been making big noise about smuggling coin - they wanted the public on their side and the bulluse the bathroom coins already in the system before they announced the change:
It amazes me how much trouble central bankers go through to protect their precious fiat money.
________________________________________ “Ultimately, the Fed can flood the system by buying any kind of asset, or even dropping bank notes from helicopters" -Fed Chairman Ben Bernanke
Suprise! Clad coins!
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Posted - 07/17/2006 : 00:22:24
